Tax revenues up 20.5%
The treasury took in NT$211.7 billion worth of taxes last month, a 20.5 rise increase from a year ago, driven by increase in income tax, the Ministry of Finance said yesterday.
The income tax paid by taxpayers last month totaled NT$175.2 billion, up by 36.2 percent from last year, said Hsu Kuo-chung (許國忠), head of the ministry's statistics department.
Income from securities transaction tax dropped by 35 percent, and has consecutively declined for the past 12 months, Hsu said.
For the first five months of the year, tax revenues hit NT$690.2 billion, up from NT$46 billion, or 7.1 percent in the same period last year, the ministry said. The figure accounts for 50.1 percent of the target set for the whole year, it said. Income tax gained by 26.3 percent, land value incremental tax rose by 11.7 percent, while the securities transaction tax declined by 51.6 percent, the ministry said.
MOF wants to tax top earners
The Ministry of Finance wants to impose a minimum tax on high-income individuals, as part of a tax reform package, Minister of Finance Lin Chuan (林全) told reporters on Tuesday night.
Lin said the plan was sparked by finding out that in 2003, eight out of the nation's 40 highest individual earners didn't pay tax, while 15 paid less than 1 percent income tax.
NT dollar dips
The New Taiwan fell NT$0.043 to close at NT$31.269 against its US counterpart on the Taipei foreign exchange market. Turnover was US$801 million, up from US$734 million on Tuesday.
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